Everspin reports its financial results for Q3 2020, is cash flow positive for the first time ever

Everspin Technologies announced its Q3 2020 financial results, with revenues of $10.1 million, up 10% from Q3 2019 ($9.2 million) but down $14% from Q2 2020 ($11.8 million). The company's net less was $3.9 million.
Everspin Technologies chip photo

Looking at the balance sheet, Everspin reports a cash flow of $1 million in the quarter - this was the first quarter ever for Everspin to have a positive cash flow.

Read the full story Posted: Nov 08,2020

Everspin reports its financial results for Q2 2020

Everspin Technologies reported its financial results for Q2 2020. Total revenues reached $11.8 million, up 37% from Q2 2019, and the GAAP net loss was $1.3 million (compared to a net loss of $3.7 million in Q2 2019). Cash and equivalents at the end of Q2 2020 were $12.9 million.

Everspin says it has extended its momentum into the second quarter, with record revenues of its 1Gb STT-MRAM product. Looking into Q3, Everspin says it sees a delay in new product introduction plans by customers, and so sees its revenues between $10 million and $10.8 million.

Read the full story Posted: Aug 07,2020

Everspin reports excellent results for Q1 2020

Everspin Technologies announced its Q1 2020 financial results, - with revenues of $10.1 million, up from $9.7 million in Q4 2019 and $10 million in Q1 2019. Net loss was $1.7 million, down from $3.1 million in Q4 2019. Everspin expects the growth to continue in Q2 2020 as demand from data center applications continues to be positive.

Everspin 1Gb STT-MRAM chip photo

At the end of the quarter, Everspin had $14 million in cash and equivalents.

Read the full story Posted: May 08,2020

Everspin and Globalfoundries extend their MRAM agreement to 12 nm processes

Everspin Technologies announced that it has amended its STT-MRAM joint development agreement (JDA) with GLOBALFOUNDRIES to set the terms for a future project on an advanced 12 nm FinFET MRAM solution. Everspin agreement included 40 nm, 28 nm and 22 nm processes, and now also include 12 nm.

Everspin 1Gb STT-MRAM chip photo

GF recently announced it has achieved initial production of embedded MRAM (eMRAM) on its 22FDX platform.

Read the full story Posted: Mar 12,2020

GlobalFoundries starts producing eMRAM solutions, first customer tape-outs by the end of 2020

GlobalFoundries announced that it has delivered the first production-ready eMRAM on its 22FDX platform for IoT and automotive applications. The company says that its advanced eMRAM provides a "cost-effective solution for low-power, non-volatile code and data storage applications".

22FDX eMRAM vs 28nm eFLASH Value Proposition (GlobalFoundries)

GF says that it has entered production and is working with several clients with multiple production tape-outs scheduled in 2020. GF's eMRAM is designed as a replacement for high-volume embedded NOR flash (eFLASH). GF says that its eMRAM has passed five rigorous real-world solder reflow tests, and has demonstrated 100,000-cycle endurance and 10-year data retention across the -40°C to 125°C temperature range. The FDX eMRAM solution supports AEC-Q100 quality grade 2 designs, with development in process to support an AEC-Q100 quality grade 1 solution next year.

Read the full story Posted: Feb 29,2020

Everspin announced a restructuring plan to reduced expense and achieve breakeven in 2020

Everspin Technologies announced that the company will undergo a restructuring plan designed to reduce annual operating expenditures and achieve quarterly cash flow breakeven this year. At the end of January the company will reduce its headcount - an approximately 15% reduction of the workforce.

Everspin also announced that it reaffirms its Q4 2019 revenue guidance of $9.3 million to $9.7 million.

Read the full story Posted: Jan 16,2020

Everspin announces its Q3 2019 financial results

Everspin Technologies announced its financial results for Q3 2019 - with revenues of $9.2 million (down from $11.5 million in Q3 2018) and a net loss of $3.7 million (down from $5.6 million in Q3 2018). Everspin says that it achieved record STT-MRAM revenues.

At the end of the quarter, Everspin had $14.8 million in cash and equivalents. For the next quarter, it expects revenues to be between $9.3 million and $9.7 million.

Read the full story Posted: Nov 10,2019